The impact of geographical choices is crucial for both individuals and businesses to assess. Generally, companies are favored by being in accessible areas, which pushes up the demand and price for space. This phenomenon is referred to as a bid-rent theory. Infrastructure like roads and public transport contributes to accessibility. Earlier studies have shown that property prices are affected by all public means of transport but seems to be mostly affected by the accessibility to metro stations. With a quantitative research method, the aim of this master thesis is to explore how commercial property transaction prices are affected by the proximity to public transport specified on metro stations in Stockholm. Our study is performed on 123 officebuildings, and all observations are within the timeline of 2015 to 2021, in both the inner and outer city. The aim is also to explore the difference between those areas. In this study, a hedonic price model is used, where price/sqm is the dependent variable: y = m + β1x1 + … + βnxn + ε 10 independent variables are used, all arguably related to determine a price for a commercial office property. The variables Metro and I/O are in focus and considered our main variables to examine, Metro represents the distance to metro stations and I/O is a dummy for inner and outer city. In total, 7 models are presented in the results, with different combinations of independent variables. All models contribute to discussion, however, the model that we consider gives the most relevant results has a degree of explanation R2 of 46,7%. This model gives us significant results on both independent variables in focus, and the model itself. A large factor that interrupted better results was the limitations on observations. The interpretation of the model for offices in the inner city showed that the dependent variable changed 0,667 units when the independent variable I/O changed 1 unit. Moreover, when the distance to metro stations increased with 1 unit the dependent variable decreased with 0,0454 units per km. Furthermore, within the inner city the distance to metro stations tends to have less significance, to clarify the reason why, is yet to be discovered. / Valet av geografisk placering är något som både privatpersoner och företag påverkas av. Generellt sett är det ekonomiskt fördelaktigt för företag att placera sig i lättillgängliga områden, vilket i sin tur bidrar till en högre efterfrågan och högre hyror i vissa områden. Infrastruktur såsom vägar och kollektivtrafik bidrar till ökad tillgänglighet. Tidigare studier visar att närhet till kollektivtrafik, oavsett trafik-slag, har en effekt på priset. Dock verkar priset påverkas främst av tillgängligheten till tunnelbana. Med en kvantitativ forskningsmetod är syftet med denna masteruppsats att undersöka hur kommersiella fastighetspriser påverkas av närhet till kollektivtrafik, med en inriktning på tunnelbanestationer i Stockholms län. Vår studie grundar sig på 123 kontorsfastigheter och samtliga transaktioner är utförda mellan år 2015–2021, i både innerstad och ytterstad. Syftet är därför också att undersöka vilken skillnad det finns mellan dessa områden. I studien används en hedonisk prismodell, där vår beroende variabel är pris/kvm: y = m + β1x1 + … + βnxn + ε 10 oberoende variabler, som i någon mån kan förklara priset, har använts i analysen. Bland dessa har vi haft störst fokus på variablerna för avstånd till tunnelbanestation Metro samt dummy-variabeln för innerstad/ytterstad I/O. Totalt sett redovisas 7 modeller med olika kombinationer av oberoende variabler. Samtliga modeller bidrar till diskussion, men den modell vi anser ger oss mest relevant information har en förklaringsgrad R2 på 46,7% och visar signifikans på modellen i sin helhet samt våra oberoende variabler i fokus. Tolkningen av modellen för kontorsfastigheter i innerstaden visade att den beroende variabeln steg 0,667 enheter när den oberoende variabeln I/O ändrades med 1 enhet. Samt visade det sig att när avståndet ökade till tunnelbanestationer med 1 enhet så minskade den beroende variabeln med 0,0454 enheter per kilometer. Dessutom, tenderar avståndet till unnelbanestationer i innerstad, att ha mindre påverkan på priset. Orsaken till detta, framgår inte i denna studie.

Infrastruktursatsningar är en stor del av den regionala utvecklingen i Sverige och forskare i ämnet är eniga om att satsningar på infrastruktur genererar en ökad ekonomisk utveckling. Något de fortfarande är oeniga om, är vilka metoder som är lämpliga att använda för att räkna ut effekten av den ekonomiska vinsten. Finns det några som gynnas mer än andra eller till och med missgynnas av dessa infrastrukturprojekt, hur ser det till exempel ut på landsbygden i de samhällen där större vägar tidigare passerat. Har dessa samhällen gynnats av att ha snabbare och enklare pendling till staden, eller har de istället drabbats negativt när motorvägen, som en del livnärde sig på, fått en ny sträcka. Denna forskningsrapport fördjupar sig i en av de största infrastruktursatsningarna i norra Sverige, nämligen ombyggnationen av europaväg 4 (E4) genom Sundsvall. Projektet som pågick mellan år 2010 och 2015 innebar att sträckan från Njurunda i söder till Skönsberg i norr byggdes om samt att Sveriges fjärde längsta bro anlades över Sundsvallsfjärden. Studien har med hjälp av ortsprismetoden och ortsanalyser utvisat vilken värdeförändring som skett på fastigheter taxerade som småhus, vid detta infrastrukturprojekt. Resultatet av dessa studier visar på den genomsnittliga förändringen av fastighetspriser i områdena Njurundabommen, Nedre Haga/Skönsberg, Nolby/Kvissleby samt Västbo. Data som låg till grund för resultatet visar delvis för få transaktioner, vilket är vanligt vid försäljningsanalyser på ortsnivå. Det genererar i sin tur en osäkerhet i resultatet, vilket medför att förändringarna kan bli stora i förhållande till den verkliga försäljningsutvecklingen. I denna studie minimerades detta genom att två likställda områden slogs ihop samt ett område fick tas bort, vilket slutligen gav ett resultat som indikerar på att områdena i denna studie haft en mer negativ prisutveckling mot Sundsvall och Sverige, sedan området fått en ny infrastruktur i form av E4:an Sundsvall. / Infrastructure investments is a large part of the regional development in Sweden, researchers in the subject agrees that investment in infrastructure generate increased economic development, one thing they still share a disagreement in which calculating methods are suitable. Are there any winners or losers in infrastructure projects, for example, smaller cities in the countryside where highways have previously passed, have they benefited from a quicker and easier commuting to the city, or have they been adversely affected when the highway has been given a new stretch? This research report focuses in one of the largest infrastructure investments in northern Sweden, European road 4 (E4) through Sundsvall. The research, combined with location-based sales comparison method and local analyzes, will show what effect market values will have on the houses real estate’s and what influence the road construction might have regarding to the values of the properties. The results of these studies are shown trough the average changes in property prices in the areas of Njurundabommen, Nedre Haga/Skönsberg, Nolby/Kvissleby and Västbo. However, the result was shown to have too few transactions, which is common in local level sales analyzes. This generates uncertainty in the result, meaning that the values can be large in relation to the actual sales development. The uncertainty was minimized in the results by merging two similar areas, which finally gave a result that indicates that the areas in the study had a more negative development towards Sundsvall and Sweden, since the area received a new infrastructure in the form of the E4 Sundsvall.

published_or_final_version / Housing Management / Master / Master of Housing Management

published_or_final_version / Housing Management / Master / Master of Housing Management

Mental health group homes located in residential neighborhoods are considered a locally undesirable land uses. Most communities and neighborhood members are misinformed or unaware of numerous studies conducted in the United States concerning the impacts of mental health group homes. This study investigated several conflicting issues associated with the siting of mental health group homes and the three most expressed oppositions by the general public to the integration of these facilities into residential neighborhoods. This creative project determined what effects, if any, a mental health group home has on property values, crime and neighborhood stability using a Comparable Market Analysis, Muncie Police Department records, Multiple Listing Service information, interviews and records form Comprehensive Mental Health Services of East Central Indiana. A description of the process used and results are given along with a determination of the impacts mental health group homes have had on the Muncie, Indiana neighborhoods where one is located. / Department of Urban Planning

[Truncated abstract] This thesis examines informational efficiency and price discovery processes within the Perth housing market for the period 1988-2000 by utilising a rich source of Western Australian Valuer General’s Office (VGO) data. Fama’s (1970) classification of market efficiency as potentially weak form, semi-strong, or strong form has been a dominant paradigm in tests of market efficiency in many asset markets. While there are some parallels, the results of tests in this thesis suggest there are also limitations in applying this paradigm to housing markets. The institutional structure of housing markets dictates that a deeper recognition of important housing market characteristics is required. Efficiency in housing markets is desirable in that if prices provide accurate signals for purchase or disposition of real estate assets this will facilitate the correct allocation of scarce financial resources for housing services. The theory of efficient markets suggests that it is desirable for information diffusion processes in a large aggregate housing market to facilitate price corrections. In an efficient housing market, these processes can be observed and will enable housing units to be exchanged with an absence of market failure in all price and location segments. Throughout this thesis there is an emphasis on disaggregation of the Perth housing market both by price and location criteria. Results indicate that the Perth housing market is characterised by varying levels of informational inefficiency in both price and location segments and there are some important pricing-size influences.

Submitted by Maria de Lourdes Mariano (lmariano@ufscar.br) on 2017-02-24T17:17:13Z No. of bitstreams: 1 REIS_Raphael_2015.pdf: 36675145 bytes, checksum: 3d5dcec15edaaf78d9fe698e288aafe8 (MD5) / Approved for entry into archive by Maria de Lourdes Mariano (lmariano@ufscar.br) on 2017-02-24T17:17:26Z (GMT) No. of bitstreams: 1 REIS_Raphael_2015.pdf: 36675145 bytes, checksum: 3d5dcec15edaaf78d9fe698e288aafe8 (MD5) / Approved for entry into archive by Maria de Lourdes Mariano (lmariano@ufscar.br) on 2017-02-24T17:17:34Z (GMT) No. of bitstreams: 1 REIS_Raphael_2015.pdf: 36675145 bytes, checksum: 3d5dcec15edaaf78d9fe698e288aafe8 (MD5) / Made available in DSpace on 2017-02-24T17:17:40Z (GMT). No. of bitstreams: 1 REIS_Raphael_2015.pdf: 36675145 bytes, checksum: 3d5dcec15edaaf78d9fe698e288aafe8 (MD5) Previous issue date: 2015-01-21 / Não recebi financiamento / In recent years, the Brazilian real estate market has faced structural changes, which has impacted the price of residences. As observed for the country, the city of Sorocaba also went through a real estate valuation process, which impacted in many ways different locations in the city. The formation of the price of residences, function of the cost of construction, also depends on external variables, commonly called urban amenities. Urban menities, even though they are part of the real price of residences, are not easily identified or valued by economic agents but are important, mainly for potential consumers of services since they have different perceptions of urban features that are priority. In this context, the objective of the study is to identify and quantify the impact of structural features and urban attributes in property prices in the city of Sorocaba, identifying if there is a regional distribution pattern of properties more and less valued as a result of these attributes. Additionally, this study spatializes the results by districts. The methodology used is the estimation of the values of the amenities is the hedonic pricing model. This methodology proposed by Rosen (1974), implies in practice, in the estimation of a "cost function", with property prices is the dependent variable and the amenities associated with it are independent variables. The data used were the property sales prices and structural characteristics of each property, accessibility variables (schools, hospitals, etc.) and neighborhood structure (population, income and crime). The results suggest that there are urban amenities that are considered by consumers in the formation of properties prices and that there is spatial dependence between the average real estate values in every area of influence of neighborhoods considered in the study. / Nos últimos anos o mercado imobiliário brasileiro tem enfrentado mudanças estruturais, as quais tem impactado o preço dos bens residenciais. Assim como o observado para o país, o município de Sorocaba também passou por um processo de valorização imobiliária, o qual atingiu de maneiras distintas as diferentes localidades do município. A formação do preço dos imóveis, além de ser função do custo de construção dos mesmos, também depende de variáveis externas, comumente chamadas de amenidades urbanas. As amenidades urbanas embora sejam parte da composição do preço dos imóveis não são facilmente identificadas ou valoradas pelos agentes econômicos mas são importantes principalmente para os consumidores potenciais dos serviços prestados uma vez que eles tem percepções diferentes das características urbanas que lhe são prioritárias. Neste contexto, o objetivo do estudo é identificar e quantificar o impacto das características estruturais e dos atributos urbanos nos preços dos imóveis no município de Sorocaba, identificando se existe algum padrão regional de distribuição dos imóveis mais e menos valorizados em decorrência desses atributos e , além disso, espacializando os resultados por regiões sorocabanas. A metodologia utilizada é a estimação dos valores das amenidades a partir do modelo de preços hedônicos. Essa metodologia, proposta por Rosen (1974), implica, na prática, na estimação de uma “função preço”, com os preços dos imóveis como variável dependente e as amenidades associadas a ele como variáveis independentes . Os dados utilizados foram os preços de venda dos imóveis, características estruturais de cada imóvel, variáveis de acessibilidade (escolas, hospitais, etc) e de estrutura do bairro (população, renda e crime). Os resultados sugerem que existem amenidades urbanas que são consideradas pelos consumidores na formação dos preços dos imóveis e que existe dependência espacial entre os valores médios dos imóveis em cada área de influência dos bairros considerados no estudo.

The aim of this thesis is to analyze the influences acting on the real estate market and create their prognoses. The first part describes the distribution and development of the construction industry and real estate market. The second part involves the creation of case studies, which are compared to offer and demand individual factors.

Ma, Wai Yip. / Thesis (M.Phil.)--Chinese University of Hong Kong, 2007. / Includes bibliographical references (leaves 75-78). / Abstracts in English and Chinese. / Abstract --- p.i / Acknowledgments --- p.iii / Content --- p.iv / List of Tables --- p.vi / List of Figures --- p.viii / Chapter Chapter One --- Introduction --- p.1 / Chapter Chapter Two --- Literature Review --- p.6 / Chapter Chapter Three --- Expected Sign of variables --- p.17 / Chapter Chapter Four --- Data Description --- p.21 / Chapter Chapter Five --- Methodology --- p.24 / Chapter 5.1 --- Ordinary Least Square --- p.24 / Chapter Chapter Six --- Empirical result --- p.26 / Chapter 6.1. --- Basic model 1 --- p.26 / Chapter 6.2. --- Basic model 2 --- p.27 / Chapter 6.3. --- Comparison between Basic model 1 & Basic model 2 --- p.30 / Chapter 6.4. --- "Model with ""Design Variables""" --- p.32 / Chapter 6.5. --- "Model using ""restricted sample""" --- p.35 / Chapter 6.6. --- "Model with ""Interactive terms and design""" --- p.36 / Chapter 6.7. --- "Model with ""Interactive terms and design"" using restricted sample" --- p.40 / Chapter Chapter Seven --- Limitations and Future direction --- p.42 / Chapter Chapter Eight --- Concluding Remarks --- p.44 / Appendix One Tables --- p.46 / Appendix Two Figures --- p.62 / Appendix Three Using floor plans information to construct dataset --- p.64 / Appendix Four Implicit prices of housing attributes over time --- p.68 / Appendix Five Robustness check for the potential problem of heteroskedasticity --- p.74 / Reference --- p.75

South Africa’s land redistribution policy (1994-2008) has been widely publicised, and has come under scrutiny of late from the public, private and government spheres, highlighting a need for research in this area. The research examines progress in South Africa’s land redistribution programme in two of KwaZulu-Natal’s district municipalities, Uthungulu and iLembe. Specifically the research investigates whether the government has paid above market prices when purchasing sugarcane farmland for redistribution in these districts. Moreover, it is illustrated how productivity on redistributed farms has been affected with the changes in ownership. To investigate the research questions, reviews of theories pertaining to property rights, land reform and market structures were conducted. Moreover, two cases studies were conducted in the districts of Uthungulu and iLembe, with assistance from the Department of Land Affairs, Inkezo Land Company and the South African Cane Growers Association. The case study data indicate that above ordinary market prices have been paid (2004-2006) by the government for sugarcane farmland in the districts concerned, and further that productivity has been negatively impacted ‘during’ and ‘post‘ transfer, in the majority of cases.